DE Burlo Group Inc. Has $8.79 Million Stock Position in Intuit Inc. (NASDAQ:INTU)

DE Burlo Group Inc. lowered its position in shares of Intuit Inc. (NASDAQ:INTU) by 65.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,150 shares of the software maker’s stock after selling 27,345 shares during the quarter. Intuit comprises 1.1% of DE Burlo Group Inc.’s holdings, making the stock its 27th biggest position. DE Burlo Group Inc.’s holdings in Intuit were worth $8,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LGT Financial Advisors LLC bought a new position in shares of Intuit in the second quarter worth $25,000. Cultivar Capital Inc. bought a new position in shares of Intuit in the second quarter worth $26,000. Fairway Wealth LLC bought a new position in shares of Intuit in the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Intuit in the third quarter worth $27,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Intuit in the second quarter worth $35,000. Institutional investors and hedge funds own 83.66% of the company’s stock.

Insider Buying and Selling

In other news, EVP Alex G. Balazs sold 2,941 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $628.76, for a total transaction of $1,849,183.16. Following the transaction, the executive vice president now owns 20 shares of the company’s stock, valued at $12,575.20. This represents a 99.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kerry J. Mclean sold 11,079 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $631.61, for a total value of $6,997,607.19. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at $15,752,985.01. This represents a 30.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,297 shares of company stock worth $35,220,046. 2.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

INTU has been the topic of a number of recent analyst reports. Morgan Stanley cut Intuit from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $750.00 to $685.00 in a research report on Wednesday, August 14th. Jefferies Financial Group lifted their target price on Intuit from $770.00 to $790.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. lifted their target price on Intuit from $585.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Barclays lifted their target price on Intuit from $740.00 to $800.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, Stifel Nicolaus lifted their target price on Intuit from $690.00 to $795.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $737.06.

Intuit Price Performance

Intuit stock opened at $650.60 on Thursday. The stock’s 50 day moving average is $634.46 and its 200 day moving average is $630.89. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $182.25 billion, a P/E ratio of 62.26, a P/E/G ratio of 3.15 and a beta of 1.25. Intuit Inc. has a one year low of $557.29 and a one year high of $714.78.

Intuit (NASDAQ:INTU) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.14. Intuit had a return on equity of 18.64% and a net margin of 18.19%. The company had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Intuit’s revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts expect that Intuit Inc. will post 14.05 EPS for the current year.

Intuit Profile

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.